Common use of PAYMENT OF BENEFITS UPON TERMINATION FOR CAUSE Clause in Contracts

PAYMENT OF BENEFITS UPON TERMINATION FOR CAUSE. If the termination of the Executive is for cause and not after a Change in Control,

Appears in 2 contracts

Samples: Pride International Inc, Pride International Inc

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PAYMENT OF BENEFITS UPON TERMINATION FOR CAUSE. If the termination of the Executive is for cause and not after a Change in Control,, the Company will have the right

Appears in 2 contracts

Samples: Pride International Inc, Pride International Inc

PAYMENT OF BENEFITS UPON TERMINATION FOR CAUSE. If the termination of the Executive is for cause and not after a Change in Control,, the Company will have the right to withhold all payments (except those specified in Section 6.01); provided however that if a final judgment is entered finding that cause did not exist for termination. the Company will pay all benefits to Executive to which he would have been entitled had the termination not been for cause, plus interest on all amounts withheld from Executive at the rate specified for judgments under Article 5069-1.05 V.

Appears in 1 contract

Samples: Pride International Inc

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PAYMENT OF BENEFITS UPON TERMINATION FOR CAUSE. If the termination of the Executive is for cause and not after a Change in Control,, the Company will have the right to withhold all payments; provided however, that if a final judgment is entered finding that cause did not exist for termination, the Company will pay all benefits to Executive to which he would have been entitled had the termination not been for cause, plus interest on all amounts withheld from Executive at the rate specified for judgments under Article 5069-1.05 V.

Appears in 1 contract

Samples: Pride International Inc

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